Don’t Assume Your Mate and Kids Will Get Everything Automatically
When it comes to estate planning, the most dangerous attitude to have is that if you simply choose to do nothing your mate and children will automatically inherit everything anyway. First of all, there are a lot of exceptions to the rule when it comes to automatic inheritance. Second, estate planning is about so much more than who gets what.
Will the Right Loved Ones Receive Your Estate?
One of the biggest factors that people fail to think about when it comes to succession is that nearly a fifth of Americans are not in what was once considered a typical family structure. For example, many are on a second marriage (or perhaps more than that). There are adoptions, stepfamilies, and blended families. Grandparents may be raising grandchildren. In these and many other situations, you can’t rely on the state to pass along your assets to the people you want them to go to and in the amounts you view as fair.
What Else Estate Planning Prepares For
Even if your family is the most traditional of households, your estate planning will still benefit your loved ones. It can help them to avoid a lengthy and expensive probate process. It can also provide instructions for your healthcare should you become seriously incapacitated during your final months or years. It also allows you to dictate how you want funeral arrangements to be cared for, so there is no disagreement between grieving family members. Taking care of these matters in advance is both loving and kind.
Helping You Prepare Estate Documents in California
Petrov Law Firm is proud to help California residents prepare in advance for these and many other situations. If you live in the San Diego or Chula Vista areas, contact our estate planning attorneys today by calling 619-344-0360.